$84M Seized - but the Crypto Link Is Smaller Than the Headline Suggests $USDT appears in a U.S. forfeiture case involving nearly $84M tied to Montana payments firm Capstone. But most of the seized money was not crypto: prosecutors took about $81M from Wells Fargo, roughly $2M from JPMorgan Chase, and around $1.2M in USDT. The case centers on how Capstone allegedly operated. Prosecutors say the company presented itself as an IT business while moving money for crypto firms, and separately participated in a scheme that converted fraud proceeds into crypto while impersonating FBI agents. There are three different layers here: Banking exposure: ~$83M seized from two major U.S. banks. Crypto exposure: ~$1.2M in USDT seized. Legal responsibility: prosecutors have not alleged wrongdoing by Tether. Tether said it was a customer of the Dominica bank involved and had no knowledge of Capstone’s alleged conduct. Capstone denies wrongdoing and plans to challenge the complaint. So this is less a story about stablecoins being the source of the problem and more about payment intermediaries, account access and compliance controls across both traditional banking and crypto rails. #USDT #Tether #Altcoin Season#